In a rising difficult and challenging times for companies, the words “downsizing” and “cost cutting” has a regular accordance. Bahraini companies are often challenged with the dire task of reducing the cost of resources and at the same time increase productivity levels and gain profit. Is that possible?
After some research, I’ve come up with 4 main methods that will definitely be of help to Bahraini entrepreneurs in maximizing their productivity at work – best part of it all? It requires little to no cost at all!
- Human assets is the core of your business, you can do wonders with them. The effective and productive utilization of resources is a must, whereby studies have shown that 64% of the impact on organizations’ productivity comes from human assets. Some small tweaks and changes to your team can immediately boost your company’s productivity levels. This can be done through improving their multi-tasking skills, equipping them with the right tools and techniques needed within their pool of skills and talents. The result? HIGHLY skilled workforce, and a VERY profitable outcome. Some of these useful productive tools can include Google Drive, Dropbox, Trello, Zoho Books and a lot more!
- Don’t forget the infrastructure. Not only does the human capital contribute to a company’s productivity, but studies have also shown that 20% of the impact on organizations productivity comes from the infrastructure provided. Bahraini entrepreneurs should strive towards providing the necessary elements within the work environment to so that their employees are in the right state of mind and dedication to give their 100% at work. This can be done through improving your relationship with your staff through employee satisfaction surveys, to have a better understanding of your employees about how they feel and what they need in your company. In addition, companies can also provide training for their employees, which in turn will benefit both the employee (skilled workforce), and the company (higher productivity). Wondering where can employees be enrolled for vocational training? Tamkeen has a Professional Certification Scheme whereby employees can attain an internationally recognized certificate after enrolling in a training course.
- Who knew that the reduction of waste would lead to incredible results? We’re not just referring to the environment here. Organizations should focus on the reduction of waste to save the cost of time, effort and resource. I mean, we’re probably all familiar with our fellow colleagues who take really long smoking breaks, this can be turned down a notch don’t you think? Moreover, there are other ways to help reduce waste, this includes:
- Assessing the flow of processes to establish the need for re-engineered and eliminating the waste produced from non-added value activities that are wasteful and time consuming (eg. Multiple approvals where only one will suffice).
- Automation of manual processes can help minimize the waste of the processes like cost of time, transporting the documents from one place to another and cost of processing papers.
- The focus on establishing processes that contain added value activates and with minimal non-added activities will impact organizations productivity and profitability in a positive manner.
- Continuous updates and improvements. The benefits of continuous improvement of organizational productivity has a high impact in the quality of output – whether it’s a service or a product. In addition, it also has a positive impact on the security of operations, high employee morale, labor stability and contribution towards society and economy, which will finally influence the organizations’ continuity, sustainability and profitability.
Now that all these methods are outlined for you, which one do you plan on executing in your business?